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News that U.S. second-quarter gross domestic product was higher than initially estimated wasn't enough to reverse a rally in Treasurys, as the 30-year yield reached a 15-month low. Concern about Russian intervention in Ukraine and an expectation that the European Central Bank will soon launch a bond-buying program drove demand for U.S. government debt as a safe-haven investment.

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China has ended a long-standing monopoly held by state-owned enterprises on oil importation. The Ministry of Commerce has opened the business to competition from private firms by approving a license for Xinjiang Guanghui Petroleum.

French President Francois Hollande says eurozone leaders should gather for a summit to coordinate action to stimulate economic growth. "Europe is threatened by a long and possibly interminable stagnation if we do nothing," he said.

Unemployed people in France totaled a record 3.424 million in July, the ninth consecutive month of increase, according to the Ministry of Social Affairs and Employment. With economic growth falling to zero, President Francois Hollande has been unable to deliver on his promise to reduce unemployment.

An expert on precious metals called gold the "new reserve currency" as the price of spot gold hit $1,234.70 per ounce, a record high. "Gold will pull back as the safe-haven premium shrinks -- on days when stock markets rally, for instance -- but the trend is up for the foreseeable future," said Ed Bugos, director of mining finance at Strategic Metals Research & Capital.